Just stumbled across this config editor:http://donotargue.com/cfg-makers/skyrim/

I've seen several threads recently where people complain about draw distances etc; well - here's a quick and easy fix for anyone wanting to push their hardware beyond Skyrim's default Ultra spec. It provides line-by-line options for increasing graphics options.

I am using the full DNA-Extreme config and it is a decent visual upgrade from Ultra; it even looks noticeably better than just ultra+ugrids=9.

However, the performance hit is noticeable. I average only about 50fps (both outdoors & cities), with 35fps being my typical minimum fps and 75 being typical max. Lowest fps I've seen so far was 27fps at one specific angle in Markarth.

well the nice thing about the config is that if you don't have a crazy rig, you can use the tool to tweak settings down a bit so that you can get better performance without any major compromises on visual quality :)